If SpaceX's approach shows promise I'd expect NASA's program to evolve to integrate it somewhat. SpaceX might become the launch vehicle for the unmanned portions, for example.
SpaceX's approach is to reuse well understood technology but do it mostly in house instead of farming everything out. The are innovating on process and cost but nothing else (at the moment).
Those are two areas where NASA certainly could learn something.
I really don't think you can claim they're not innovating when they've already propulsively test-landed (in the sea, but successfully) two Falcon first stages.
They've done those landings (as tests) on land with the Grasshopper as well. The videos are super cool.
NASA has propulsively landed many things (on other planets!). The fundamentals have been around for a while.
What I'm trying to get at is that SpaceX is currently not the go to place for rocket science. I do think they are making mark in rocket building science which is exactly what we pay them to do.
